TWO Top 50+50 firms have merged, creating a £40m business.
Menzies has extended its reach to North London with the merger of Harris Lipman into its practice.
The reach of Menzies stretches from the Solent up to the south and west of London, but that has now been extended. The deal should also help the firm leverage Harris Lipman’s client base, with exposure to Menzies’ expertise in more complex areas of international tax, VAT and HR.
The firm will comprise 45 partners in total, of which seven have come across from Harris Lipman.
Harris Lipman’s business recovery practice in Cardiff is also included in the deal; with both its Cardiff and head office operating as normal. The insolvency team in Whetstone will relocate to Menzies in Tavistock Square, London.
No redundancies are planned from the merged entity.
Julie Adams (pictured), senior partner at Menzies, said the merger supports the firm’s growth plans in the home counties and further extends the reach of its business recovery team. “Harris Lipman’s ethos and focus on entrepreneurial businesses complements our own, and we look forward to working with them to grow our business together.”
Martin Atkins, managing partner at Harris Lipman, said: “We believe this merger brings a wealth of additional expertise and geographical reach of those skills to our clients and creates great opportunities for our team.”
Atkins will serve as office principal for Whetstone, while the firm’s long-serving senior partner Barry Lewis will be retained as a consultant.
Menzies posted £30.3m in fee income for the y/e 31/06/13, according to the 2014 Accountancy Age Top 50+50 Survey, while Harris Lipman filed £4.3m for the y/e 30/03/14.
Atkins previously told Accountancy Age that Harris Lipman had been through a failed merger attempt with another firm in 2012.